Bloomberry Resorts Corp., operator of Solaire Resorts and Casino, reported a 52 percent drop in net income for the first half of 2025, falling to P1.9 billion from P4 billion a year ago, largely due to a weak second quarter at its flagship Solaire Entertainment City in Parañaque.
Chairman Enrique K. Razon Jr. attributed the decline to continued softness in the VIP and premium mass gaming segments. The company posted a 2Q net loss of P1.4 billion, reversing a net profit of P1.3 billion in the same period last year. Gross gaming revenue (GGR) for Q2 at Solaire Entertainment City plunged 27 percent to P9.8 billion, hit by lower volume across all gaming segments, particularly VIP, which saw GGR fall 62 percent to P1.4 billion.
Overall 2Q GGR across Bloomberry operations declined 1 percent year-on-year to P14.3 billion, reflecting operational strain in core assets despite growing contribution from Solaire Resort North, which generated P4.5 billion in GGR—up from P1.1 billion a year ago.
Cash operating expenses surged 24 percent to P20.1 billion in 1H, with P509.5 million allocated to Bloomberry’s new online platform “MegaFUNalo!”, launched on a soft basis in June.
While non-gaming revenue rose slightly by 2 percent, the results underscore growing dependence on new assets and digital initiatives amid weakening performance at Bloomberry’s main property. The company faces mounting pressure to stabilize returns from its Paranaque flagship while scaling up new revenue streams in an increasingly competitive gaming market.
